COMMENT | A coordinated effort between health insurers, hospitals, Bank Negara Malaysia (BNM), and the Health Ministry is needed to lower high and rising medical insurance premiums following rising private hospital charges.

The cost of medical insurance is going up at a rate so high that medical care in private hospitals is going to be unaffordable for most people, even for those who took medical insurance many years ago to avoid precisely such a situation.

That’s because both insurers and private hospitals are eagerly and jealously guarding their profitability, the burden then falls on the person who takes insurance because he can’t pay the cost of medical treatment. Now he won’t be able to afford even the premium.

Insurers are increasing premiums so much at the higher age brackets to force people to drop out of their medical plans, therefore avoid having to make high payouts when the insured needs it the most - in old age.